How Bad Is Obama Care?

How Bad Is Obama Care?
By www.ProfitableInvestingTips.com

http://profitableinvestingtips.com/stock-investing/how-bad-is-obama-care
While the Affordable Care Act (Obama
Care) has provided health insurance
for many who could otherwise not
afford it, the net result for health
stocks and insurance companies has
not been good.

How bad is Obama care for the
companies involved?

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Before We Continue…

Reuters just announced that health
stocks helped pull the market lower.

U.S. stocks started the fourth quarter
on a weak note as healthcare stocks
fell and Deutsche Bank’s travails
weighed on financials.

Merck and Johnson & Johnson both
fell on the day.

But a better measure of how bad
Obama care is for health stocks are
the number of health insurers leaving
Obama Care.

In Minnesota Obamacare rates are
going up as regulators are allowing
premium increases of 50% according
to Bloomberg.

Minnesota will let the health insurers
in its Obamacare market raise rates
by at least 50 percent next year, after
the individual market there came to
the brink of collapse, the state’s
commerce commissioner said Friday.

The increases range from 50 percent
to 67 percent, Commissioner Mike
Rothman’s office said in a statement.

Rothman, who regulates the state’s
insurers, is an appointee under
Governor Mark Dayton, a Democrat.

The rate hike follows increases for
this year of 14 percent to 49 percent.

“It’s in an emergency situation – we
worked hard and avoided a collapse.”

Rothman said in a telephone
interview. “It’s a stopgap for 2017.”

Blue Cross and Blue Shield of
Minnesota is leaving the Obama Care
exchanges due to losses and
regulators are working hard to see
that remaining insurers are not
overwhelmed with too many patients
and excessive losses.

Tailored Plan Quits

Harken Health Insurance is a startup
launched early this year and affiliated
with health care giant United Health
Care.

The company was specifically tailored
to offer plans through the Affordable
Care Act.

According to Business Insider the
company is already quitting
Obamacare exchanges after less
than a year.

Harken Health Insurance, a startup
and part of UnitedHealthcare that
offered low-cost health plans through
the Affordable Care Act (ACA)
exchanges, is leaving the
marketplace.

Harken had been launched in early
2016 to create tailored plans that
would make money in the ACA, better
known as Obamacare exchanges.

UnitedHealthcare, the parent
company, has also rolled back its
offerings through the exchanges due
to financial losses.

It should be noted at United Health
Care invested a lot of time and money
into how they would deal with and
profit from the Affordable Care Act.

It is a measure of how bad Obama
care is for these companies that even
the smartest of the bunch could not
find a way to make money and
continue offering services.

Change to Survive

The New York Times says Obama
care will need to change to survive.

The fierce struggle to enact and carry
out the Affordable Care Act was
supposed to put an end to 75 years of
fighting for a health care system to
insure all Americans.

Instead, the law’s troubles could make
it just a way station on the road to
another, more stable health care
system, the shape of which could be
determined on Election Day.

Seeing a lack of competition in many
of the health law’s online insurance
marketplaces, Hillary Clinton,
President Obama and much of the
Democratic Party are calling for more
government, not less.

The departing president, the woman
who seeks to replace him and nearly
one-third of the Senate have
endorsed a new government-
sponsored health plan, the so-called
public option, to give consumers an
additional choice.

A significant number of Democrats,
for whom Senator Bernie Sanders
spoke in the primaries, favor a single-
payer arrangement, which could take
the form of Medicare for all.

Considering that the government
might just choose the “Bernie” option
and nationalize health care this may
be just the right time to get out of
health stocks.

Of course, after the shakeup the
survivors will probably make money
by selling private insurance to those
who can afford it.

How Bad Is Obama Care?

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